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Atlanta-based Nexus Circular and São Paolo-based petrochemical producer Braskem S.A. have signed a memorandum of understanding (MOU) by which Braskem will secure the production output from a new advanced recycling facility Nexus plans near Chicago. The new facility will have an initial capacity to convert more than 30,000 metric tons of used plastic annually into new materials, with the potential to rapidly expand the processing capacity to more than 120,000 metric tons annually, according to a joint news release.
Nexus Circular says its advanced recycling process uses pyrolysis to convert landfill-bound films and other hard-to-recycle plastics into high-quality materials used to produce virgin-quality sustainable plastics. Since 2018, Nexus has been supplying on-spec commercial volumes of ISCC Plus-certified circular products. In January 2022, Braskem made a strategic investment in Nexus Circular.
By the terms of the MOU, Braskem gains executive rights to the production output from this new advanced recycling facility, which supports its strategic objective to sell 300,000 metric tons of products with recycled content by 2025 and 1 million metric tons by 2030, the company says.
Braskem America’s CEO Mark Nikolich says, “With the new facility, we will leverage Nexus’ proven, commercial advanced recycling technology to secure high-quality feedstock for the production of Braskem’s certified circular PP resins. Braskem has dedicated substantial resources towards reducing plastic waste and is making significant progress toward a more sustainable portfolio of PP to support our clients’ goals.”
Eric Hartz, Nexus Circular co-founder and president says, “Nexus is rapidly expanding our production footprint beyond our current commercial plant with leading companies. We are thrilled to have Braskem as a committed partner, in addition to being an investor, as we move decisively to address the outsized market demand for circular recycled products while helping to mitigate the plastic waste challenge.”
The companies say Nexus’ process has diverted more than 5.5 million pounds of used plastics from landfills to date.
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